Directs the secretary of the Department of Economic Development and the executive director of the Louisiana Workforce Commission to provide contractual and employment information relative to business and employers pursuant to the Gulf Opportunity Zone and Quality Jobs Programs.
Impact
The resolution highlights the importance of transparency regarding economic incentive programs that offer tax relief and grants to businesses. The rationale behind the resolution suggests a consciousness of how such financial resources may impact local government budgets and services, as tax incentives can divert much-needed funds from public services. The collection and reporting of this information are poised to inform legislators and the public about the effectiveness and repercussions of these economic development programs.
Summary
Senate Resolution No. 92 directs the secretary of the Department of Economic Development and the executive director of the Louisiana Workforce Commission to provide specific contractual and employment information related to businesses within the Southeast Louisiana Economic Development Region. This request pertains to businesses that have made significant capital investments of five hundred million dollars or more and have benefited from both the Gulf Opportunity Zone and Quality Jobs Programs in the past three years. The intent is to gather data that outlines these companies' ongoing revenue, contracts, and job creation efforts.
Sentiment
The sentiment surrounding SR92 appears predominantly positive among those in favor of greater accountability and transparency in state-sponsored economic initiatives. Supporters recognize the need for oversight to ensure that the economic benefits promised by incentive programs are visible and verifiable. Conversely, there may be concerns regarding the burden of reporting on businesses and the possible implications of revealing sensitive financial data, particularly for smaller organizations that may not have the resources to fully comply with such inquiries.
Contention
While there is general support for the aggregation of this data, notable points of contention could arise from businesses concerned about privacy and the potential for the information to be used against them in a competitive market. Moreover, the necessity of compliance with reporting could be viewed as bureaucratic red tape, particularly if it affects the operational flexibility of the companies involved. As the resolution moves through legislative procedures, these tensions between the need for oversight and the practical realities of business operations may become focal points of debate.
Transfers certain family and support programs from the Department of Children and Family Services to the Louisiana Workforce Commission and renames Louisiana Workforce Commission to Louisiana Works (EN INCREASE GF EX See Note)
Directs the Louisiana Workforce Investment Council to study and submit a report to the legislature relative to funding and programs for workforce development
Urges and requests Secretary of the Interior, Ken Salazar, to reconsider the directive that he issued which instituted six-month moratorium on oil and gas exploration in the Gulf of Mexico and to possibly alter that directive to minimize the negative economic impact of such directive on the already damaged economies of the state of Louisiana and the other oil and gas producing states along the Gulf of Mexico.
An Act Concerning Economic Development Programs Administered By The Department Of Economic And Community Development, The Minority Business Initiative Advisory Board, The State Economic Strategic Plan And The Evaluation Of Business Assistance And Incentive Programs.
An Act Transferring The Office Of Workforce Competitiveness And Commission On Culture And Tourism To The Department Of Economic And Community Development And Other Changes To Economic Development Statutes.